Brampton, Ontario–(Newsfile Corp. – April 5, 2022) – Star Navigation Systems Group Ltd. (CSE: SNA) (CSE: SNA) (“Star” or the “Company”) is pleased to announce it has received a purchase order for its Star A.D.S ® system from Swiss Aviation Group AG (“SAG”). The purchase order consists of nine (9) Star A.D.S ® units, to be delivered to four different airlines. The estimated value of the purchase order is $2.9 million over five years.
SAG’s delivery plan for the nine aircraft fitted with the Star A.D.S ® starts in June 2022 and should be completed in December 2022. Star plans to start preliminary inspections on the initial two aircraft in France at the end of April 2022.
The purchase order is conditional on two factors: successful aircraft lease financing and regulatory approval from local Civil Aviation Authorities regarding the Supplemental Type Certificates needed for each aircraft.
Mr. Amir Bhatti, Chief Executive Officer of Star said: “We are excited to have SAG complete its first Star A.D.S ® sale. This is a start for four airlines to whom they are leasing aircraft. It is a great success for both Star and SAG and proves that despite tough operating conditions, both lessors and operators see the Star A.D.S ® as a solution to optimize operations.
“Star has worked hard to showcase its Star A.D.S ® system while the commercial aviation industry endured the Covid-19 pandemic, and with another wave of Covid-19 emerging in China and now the Ukraine conflict, it has been a struggle for Star. The industry works with wafer-thin margins and therefore requires every technological enhancement to reduce business risk.
“With Covid lockdowns ending around the world, airlines are seeing a pent-up demand for travel. This is especially the case for business travel where video conference meetings replaced face-to-face customer meetings for the past two years. Recovery of the air travel industry requires reducing the burdens of flying for customers during Covid and optimizing flight operations. Star’s A.D.S ® provides this and we are ready and eager to prove it.”
Mr. Malte Dollinger, Chief Executive Officer of Swiss Aviation Group said: “We are very pleased that our present airline clients are following our recommendation to install the Star A.D.S ® system in most of the aircraft we will deliver in the course of 2022.
“Having been able to present and demonstrate the superior capabilities and scope of the Star A.D.S ® system in comparison to competing products in the market we are confident our airline clients will benefit in numerous ways in their day to day operations, especially in the areas of fuel optimization, reduction in engine and airframe maintenance costs, better flight tracking, higher safety and end of flight reports.
“Having been entrusted and supported by Star in marketing their product to our airline clients world-wide since 2021, we foresee further opportunities now developing steadily with more of our airline clients in the coming years.”
About Star Navigation:
Star Navigation Systems Group Ltd. manufactures the In-flight Safety Monitoring System, STAR-ISMS®, the heart of the STAR-A.D.S.® System. The STAR-A.D.S.® System has real-time capability of tracking, performance trends and predicting incident-occurrences which enhances aviation safety and improves fleet management while reducing costs for the operator. Star’s MMI Division designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide.
Forward Looking Information
Certain statements in this news release may constitute “forward-looking statements”. Forward-looking statements are statements that address or discuss activities, events or developments that Star expects or anticipates may occur in the future. When used in this news release, words such as “estimates”, “expects”, “plans”, “anticipates”, “projects”, “will”, “believes”, “intends” “should”, “could”, “may” and other similar terminology are intended to identify such forward-looking statements.
Forward-looking statements reflect the current expectations and beliefs of Star’s management. Because forward-looking statements involve known and unknown risks, uncertainties and other factors, actual results, performance or achievements of Star or the industry may be materially different from those implied by such forward-looking statements. Examples of such forward-looking information that may be contained in this news release include statements regarding: growth and future prospects of our business; our perceptions of the industry and markets in which we operate and anticipated trends in such markets; expectations regarding the operation of our app; and our future revenues.
Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking statements may include, but are not limited to, our ability to execute on our business plan, increase visibility amongst consumers and convert users to revenue producing subscribers and the success of the business of our partners.
Forward-looking statements involve significant uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved.
A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, without limitation: those relating to potential disruptions to product delivery; failure to meet regulatory requirements; changes in the market; potential downturns in economic conditions; availability of financing (as necessary); and other risk factors described in our Filing Statement which is available on SEDAR at www.sedar.com. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should exercise caution in relying upon forward-looking statements and Star undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.
The risks posed by the COVID-19 pandemic are real and substantial but cannot be defined or measured in any meaningful way at this time. Many other factors could cause Star’s actual performance or achievements to vary from those described herein.
Should one or more of these factors or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
NEITHER CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CANADIAN SECURITIES EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Please visit www.star-navigation.com or contact:
Mr. Amir Bhatti, CEO at 1-416-252-2889 #230 or [email protected]
